Traders have scaled back bets of aggressive rate cuts by the Federal Reserve ahead of the U.S. GDP report. Original
Bitcoin Holds Above $40K Ahead of US GDP, $5.2B Crypto Options Expiry
Day: January 25, 2024
NuggetRush, Solana, and Cosmos in focus
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. NuggetRush (NUGX) integrates impact gaming into its model. Solana (SOL) is under pressure, drops 7% in the last three days. The Cosmos Hub rejected Proposal 868. NuggetRush (NUGX), Solana (SOL), and Cosmos (ATOM) are being monitored. Each project offers unique features and developments. NuggetRush plans to reshape GameFi using NFTs NuggetRush offers an innovative model incorporating impact gaming. It seeks to provide a unique gaming experience by offering NFTs…
Will Polygon (MATIC) Price Hit $1 after Overtaking Bitcoin ?
Polygon (MATIC) recorded user growth 50% higher than Bitcoin (BTC) in 2023, according to a Flipside Analytics’s industry report. Flipside Analytics’ latest crypto industry report has shown that Polygon surpassed Bitcoin in user-growth for 2023, a feat that could impact MATIC price significantly action in 2024. Polygon (MATIC) recorded 15 million new users in 2023 Polygon (MATIC) price performance has been tepid in recent months. As the crypto market rallied in Q4 2023, mega-cap altcoins like Solana (SOL), Cardano (ADA), Avalanche (AVAX) closed the year with triple-digit quarterly gains. In…
Bitcoin Whales Go On Buying Spree As Price Dips, Here’s How Much They Bought
A recent development shows that Bitcoin whales have refused to be deterred by the recent price action of the flagship cryptocurrency. Instead, they have chosen to see it as an opportunity to accumulate more BTC. This move could turn out to be really profitable based on a recent analysis by crypto analyst Ali Martinez. An Increase In Bitcoin Whales Ali Martinez stated in an X (formerly Twitter) post that 46 new entities now hold 1,000 BTC or more, which represents a 3% increase in just two weeks. Data from BitInfoCharts…
Solana Price Soars By 11%
The Solana (SOL) price has witnessed an 11% increase, rebounding to $89.21, following a local low of $78 yesterday. This surge comes amidst a broader market recalibration and can be largely attributed to an announcement from the Solana Foundation. The foundation unveiled a new tokenization feature, stirring significant interest within the crypto community and prompting a bullish market response. Why The Feature Is So Important Tokenization, a concept heralded by BlackRock CEO Larry Fink as the future of digital markets, is poised to revolutionize the financial and securities landscape. In…
Chinese rush to invest into banned Bitcoin amid economic downturn
Residents of China have begun actively converting their savings into cryptocurrencies, using creative ways to own Bitcoin (BTC) and other crypto assets prohibited in the country. According to Reuters, although cryptocurrency is banned in mainland China and there are strict controls on the movement of capital across borders, people can still trade tokens such as Bitcoin on crypto exchanges such as OKX and Binance or through other over-the-counter channels. In addition, Mainland China investors can also open overseas bank accounts to purchase crypto assets. Following Hong Kong’s open approval of…
Chemists Turn To Blockchain To Unravel The Origins of Life
A team of chemists, led by Bartosz A. Grzybowski from the Korea Institute for Basic Science and the Polish Academy of Sciences, has embarked on an unprecedented initiative, utilizing blockchain technology to simulate over 4 billion chemical reactions crucial for unraveling the mysteries of early Earth’s origins. This groundbreaking approach repurposes cryptocurrency mining processes to tackle intricate scientific inquiries, showcasing the versatility of blockchain beyond its financial applications. The researchers set out to explore the potential emergence of primitive forms of metabolism without relying on enzymes. To accomplish this, they…
Recovery Questionable? Ethereum Faces Potential Slide Towards $2,000
Ethereum, the linchpin of the decentralized application ecosystem, finds itself navigating a precarious path this week. The cryptocurrency’s value, having breached the pivotal $2,250 support level, now teeters on the edge of a decisive crossroads, caught between the prospect of a resurgence and the looming threat of a more pronounced downturn. Analyzing the technical landscape reveals a cautious narrative, as ominous bearish trendlines emerge on the hourly charts of the Kraken exchange, while a resilient resistance at $2,240 presents a formidable obstacle. Ethereum: Uphill Battle And Key Levels To Watch…
SEC delays decision on BlackRock’s Ethereum spot ETF launch
The Securities and Exchange Commission (SEC) has delayed its decision on BlackRock’s application to launch a spot Ethereum (ETH) ETF to March. According to a document on the SEC website, a new decision on the application, which was supposed to be made on Jan. 25, is now expected on March 10, 2024. SEC representatives explained their decision due to the lack of time to review all the application details. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so…
Ether (ETH) Options Out of Sync With Bullish Sentiment on Street
Ether’s one-week call-put skew, a gauge of demand for calls relative to puts expiring in seven days, fell to nearly -8 on Wednesday, the lowest in over three months, indicating a preference for bets that ether’s price will decline. The gauge stayed negative at press time, with one-, two- and three-month skews exhibiting a negative outlook. Source